KeyCorp $KEY Stock Holdings Raised by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its holdings in KeyCorp by 2.4%, owning approximately 7.36 million shares valued at $117.6 million at the end of Q1.
• KeyCorp reported a 20.6% increase in revenue year-over-year for Q2, with earnings per share beating analyst expectations.
• The company has announced a quarterly dividend of $0.205 per share, translating to an annual yield of 4.3%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,356,598 shares of the financial services provider's stock after buying an additional 172,151 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.67% of KeyCorp worth $117,632,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC grew its position in shares of KeyCorp by 4.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider's stock valued at $1,101,000 after buying an additional 3,145 shares during the last quarter. Teacher Retirement System of Texas bought a new position in KeyCorp in the 1st quarter worth about $2,171,000. Cambridge Investment Research Advisors Inc. grew its position in KeyCorp by 31.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider's stock worth $1,787,000 after purchasing an additional 26,615 shares during the last quarter. Asset Management One Co. Ltd. grew its position in KeyCorp by 4.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 379,514 shares of the financial services provider's stock worth $6,068,000 after purchasing an additional 15,367 shares during the last quarter. Finally, Blue Trust Inc. grew its position in KeyCorp by 41.9% in the 1st quarter. Blue Trust Inc. now owns 20,786 shares of the financial services provider's stock worth $332,000 after purchasing an additional 6,135 shares during the last quarter. Institutional investors own 79.69% of the company's stock.

KeyCorp Stock Down 0.4%

KEY stock opened at $19.08 on Friday. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The firm has a market cap of $20.92 billion, a PE ratio of -272.53, a P/E/G ratio of 0.68 and a beta of 1.15. The firm has a 50 day simple moving average of $18.48 and a 200 day simple moving average of $16.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm's revenue was up 20.6% compared to the same quarter last year. Equities research analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's dividend payout ratio is currently -1,171.43%.

Analyst Ratings Changes

Several research analysts have commented on KEY shares. UBS Group upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and upped their target price for the stock from $16.00 to $22.00 in a research report on Tuesday, July 8th. Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 target price for the company. in a research report on Wednesday, July 2nd. Wells Fargo & Company upped their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Baird R W cut shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group started coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $18.00 target price for the company. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, KeyCorp presently has a consensus rating of "Hold" and an average price target of $19.39.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director owned 82,719 shares in the company, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the transaction, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,102 shares of company stock worth $3,299,664. 0.52% of the stock is currently owned by company insiders.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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